Under the new guidelines, the minimum loan now will be $250,000 to a maximum of $300 billion.
Federal Reserve Chairman Jerome Powell speaks at his news conference following the two-day meeting of the Federal Open Market Committee meeting on interest rate policy in Washington, January 29, 2020.As the Federal Reserve prepares to start up its Main Street lending program, it has changed the terms to allow for greater participation.
Under the new guidelines, the minimum loan now will be $250,000, half the amount under previous versions of the plan. The maximum will now vary by facility but could be up to $300 million from the previous $200 million.
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